On his fourth trade mission to China since taking office in 2011, Gov. Rick Snyder said interest in investing in Michigan is at its highest level yet.
Speaking to Crain’s Sunday night from a hotel in the city of Guangzhou, Snyder said success of the trip is now measurable thanks to the building of relationships in previous trips.
“(These trips) see success over time and we’re starting to realize the fruits of the work,” Snyder said.
Companies on the mission with Snyder are also reaping what the delegation sowed on previous visits.
On Friday, Rochester Hills-based Air and Liquid Systems Inc. signed a $2.6 million export agreement withHydrotech Filtration Corp. to supply filtration equipment to General Motors Co.‘s joint venture partner plants in China.
Snyder said missions to China are increasingly important as China’s role in Michigan’s economy continues to grow. China is now Michigan’s third largest export market, behind Canada and Mexico, Snyder said.
Michigan is also home to more than 100 Chinese companies representing more than a $1 billion investment, he said.
For instance, STEC USA Inc., a subsidiary of China’s largest automaker, Shanghai Automotive Industry Corp., announced last week it is investing $15.1 million to open a new headquarters and manufacturing operation in Madison Heights.
The plant will supply window regulators to GM.
Snyder also attended the Guangzhou International Automobile Exhibition over the weekend, which he said is much louder and larger than the North American International Auto Show in Detroit.
The trade mission is also being used to sell China on Pure Michigan, Snyder said.
The Chinese are flush for travel expenditures, projected to spend more than $155 billion this year on tourism abroad, up 20 percent from 2013, according to the China Tourism Academy.
Snyder said Detroit is a hot topic – one he’s happy to talk about.
“The good news is there is interest in Detroit,” Snyder said. “Detroit is an interesting place for them to come visit…and I can tell a positive story now.”
The trip marks the 11th trade mission for the Snyder Administration. Other mission trips have been to South Korea, Japan, Italy, Germany, the Netherlands, Mexico, Brazil, Canada and Israel.
